Xiaomi will sell shares at between HK$17 and HK$22 a share, raising up to $6.1bn in its Hong Kong initial public offering.
Cornerstone investors, including US chipmaker Qualcomm and China Mobile, have signed up for an aggregate $548m shares – based on the midpoint of the price range - as cornerstone investors.
The price represents a price earnings multiple of 22.7 to 29.3 times 2019 earnings as forecast by the underwriting syndicate.
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